Asana, Inc. (NYSE:ASAN) Given Average Recommendation of “Hold” by Brokerages

Shares of Asana, Inc. (NYSE:ASAN) have earned an average rating of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $17.73.

ASAN has been the topic of several analyst reports. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 target price on the stock in a research report on Friday, December 6th. JMP Securities increased their target price on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a research report on Friday, December 6th. Oppenheimer increased their target price on Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Robert W. Baird increased their target price on Asana from $13.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th.

Asana Stock Performance

ASAN stock opened at $20.80 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.76 billion, a P/E ratio of -18.57 and a beta of 1.11. Asana has a 12-month low of $11.05 and a 12-month high of $27.77. The stock’s 50 day simple moving average is $21.47 and its 200 day simple moving average is $16.43.

Insider Activity at Asana

In related news, Director Justin Rosenstein sold 150,000 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.01, for a total value of $3,001,500.00. Following the completion of the transaction, the director now owns 2,047,309 shares in the company, valued at $40,966,653.09. This trade represents a 6.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Anne Raimondi sold 27,233 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the completion of the transaction, the chief operating officer now owns 733,855 shares of the company’s stock, valued at $15,931,992.05. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 573,300 shares of company stock valued at $12,197,068 over the last 90 days. 63.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asana

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC boosted its position in shares of Asana by 8.1% in the 4th quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company’s stock valued at $254,166,000 after purchasing an additional 937,726 shares during the period. Voloridge Investment Management LLC lifted its stake in Asana by 25.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company’s stock worth $43,574,000 after acquiring an additional 438,057 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Asana in the 4th quarter worth about $38,966,000. Geode Capital Management LLC lifted its stake in Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company’s stock worth $21,605,000 after acquiring an additional 12,055 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Asana by 17.6% in the 4th quarter. First Trust Advisors LP now owns 1,743,981 shares of the company’s stock worth $35,350,000 after acquiring an additional 261,298 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Company Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.